The most recent bull run is a scaled-up move of Shiba's first big run in early October; "scaled up" meaning both (a) wider swings to the up/downsides but also (b) longer in time for the ebbs and flows of each rally to occur.
So here's my hypothesis: Shiba will bottom out around the .35-.40 support levels and continue trading sideways before the start of the next big move up.
Why? Let's take a look at the last time RSI levels fell bellow sub-30 (first green flag), Shiba during the past few weeks have tapped that sub-30 level again a few times which tells me it could be oversold at current levels (yes-meme coins can be oversold too!)
All of the above aside, SHIB will ultimately move w/ BTC - and there is some major tax related FUD happening in crypto rn
What do you think? Subscribe for more!
Disclosure: I am long on Shiba on a 3-5 year timetable - not financial advice just my take
So here's my hypothesis: Shiba will bottom out around the .35-.40 support levels and continue trading sideways before the start of the next big move up.
Why? Let's take a look at the last time RSI levels fell bellow sub-30 (first green flag), Shiba during the past few weeks have tapped that sub-30 level again a few times which tells me it could be oversold at current levels (yes-meme coins can be oversold too!)
All of the above aside, SHIB will ultimately move w/ BTC - and there is some major tax related FUD happening in crypto rn
What do you think? Subscribe for more!
Disclosure: I am long on Shiba on a 3-5 year timetable - not financial advice just my take